Montana § 2-7-504 Accounting Methods

Montana Statutes

§ 2-7-504 — Accounting Methods

Montana § 2-7-504

Title 2GOVERNMENT STRUCTURE AND ADMINISTRATION

Ch. 7STUDIES, REPORTS, AND AUDITS

Part 5Audits of Political Subdivisions

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Bluebook

Mont. Code Ann. § 2-7-504 (2026).

Text

2-7-504 . Accounting methods.

(1)Unless otherwise required by law, the department shall prescribe by rule the general methods and details of accounting for the receipt and disbursement of all money belonging to local government entities and shall establish in those offices general methods and details of accounting. All local government entity officers shall conform with the accounting standards prescribed by the department.

(2)The rules adopted by the department must be in accordance with:

(a)generally accepted accounting principles established by the governmental accounting standards board or its generally recognized successor; or

(b)a small government financial reporting framework that is defined by the department and derived from the generally accepted accounting principles referenc

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2-7-504 . Accounting methods. (1) Unless otherwise required by law, the department shall prescribe by rule the general methods and details of accounting for the receipt and disbursement of all money belonging to local government entities and shall establish in those offices general methods and details of accounting. All local government entity officers shall conform with the accounting standards prescribed by the department.
(2) The rules adopted by the department must be in accordance with:
(a) generally accepted accounting principles established by the governmental accounting standards board or its generally recognized successor; or
(b) a small government financial reporting framework that is defined by the department and derived from the generally accepted accounting principles referenced in subsection (2)(a).

Legislative History

En. 82-4530 by Sec. 16, Ch. 380, L. 1975; R.C.M. 1947, 82-4530; amd. Sec. 1, Ch. 1, Sp. L. June 1989; amd. Sec. 1, Ch. 11, Sp. L. June 1989; amd. Sec. 4, Ch. 489, L. 1991; amd. Sec. 6, Ch. 430, L. 1995; amd. Sec. 35, Ch. 278, L. 2001; amd. Sec. 1, Ch. 73, L. 2019.